Local entrepreneurs make the cut in Asian Rich List
A NUMBER of leading British Asian businessmen based in the West Midlands have seen their fortunes grow over the last year according to a new rich list.
The Asian Rich List, published by Asian Media and Marketing Group (AMG), reveals Real Estate Investors chief executive Paul Bassi has increased his fortune by £20m over the last 12 months. He now sits in joint 53rd place on the list with an estimated fortune of £80m.
Sharing 53rd spot with him is East End Foods founder Tony Deep Wouhra.
Bassi set up his property company in 1983, creating Bond Wolfe which initially focused on the West Bromwich region before branching out. He is widely regarded as one of the Midlands largest and most influential private landlords.
Wouhra’s business idea originated in the 1960s, inspired by his father who told him to only sell food that he was prepared to eat himself.
Today Wouhra’s Birmingham and West Bromwich-based East End Foods empire is a national player in the ethnic foods sector.
The Asian Rich List also draws attention to the Sodha brothers, who established their pharmaceuticals empire in 1995. Their company Lexon, now delivers drugs to over more than 700 independent pharmacies across the West Midlands.
The family also operate a chain of pharmacies employing hundreds of staff across the region.
The Worcestershire company’s growth has been quite rapid and brothers Anup, Nitin and Pankaj Sodha are worth £50m, ranking them 90 on the Asian Rich List.
Shailesh Solanki, executive editor of AMG and one of a panel of four experts who has examined British Asian wealth over the last year for the Asian Rich List, said: “The list shows the remarkable resilience and diversity of Asian businesses in the UK.
“Despite the challenges of the general economy many business leaders in the community have seen opportunity and potential and moved quickly to capitalise.”
